Tennessee VA Loans are available to veterans, military members, and their spouses, created in 1944 as part of the Servicemen’s Readjustment Act, to provide them with various financing benefits when purchasing or refinancing homes.
From 100% financing and limited closing costs to no private mortgage insurance and no down payment, the VA loans program has a lot to offer to veterans and active duty military personnel in Tennessee.
VA loans are insured by the Department of Veteran’s Affairs, and at e-Finance Mortgage LLC, we work to provide these loans to the military members and veterans located all throughout Tennessee.
In order to qualify for a Tennessee VA home loan, all applicants must acquire a Certificate of Eligibility (COE).
Tennessee VA Loan Benefits
- No private mortgage insurance
- Low monthly payments
- 100% financing options
- No penalty on pre-payment
- Loan amounts up to $453,100
- Closing costs limited by VA regulation
- 0% down payment options
- Easy qualification requirements
VA Interest Rate Reduction Refinance Loans are also available to Tennessee veterans and military members with an existing VA loan, which allows them to refinance to a lower interest rate mortgage option, without the need to pay an exorbitant amount of fees or jump through as many hoops compared to other mortgage options. This is also known as the VA’s streamline refinance loan.
Those with existing Tennessee VA loans can also make use of the cash-out refinance loan option, as it can provide them with extra cash. This cash can be used for other expenses such as high-interest debt consolidation or home improvement needs.
At e-Finance Mortgage LLC, we work to provide assistance to the veterans in Tennessee with their VA loan needs. With our help, you can find and qualify for the right VA home loan securing competitive interest rates. If you’re looking for more information or have any questions about Tennessee VA loans and what they have to offer, you can contact e-Finance Mortgage LLC today.